In Washington, DC, ethanol production averaged 985,000 barrels per day (b/d)—or 41.37 million gallons daily—down 25,000 b/d from the prior week, according to EIA data analyzed by the Renewable Fuels Association. This is the first time in 15 weeks that production settled below 1 million b/d, dipping to the second-lowest output in 80 weeks. As a result, the four-week average for ethanol production receded to a 27-week low of 1.016 million b/d for an annualized rate of 15.58 billion gallons. Despite the cut in output, stocks reversed their five-week fall with a 1.9% increase over last week to 21.7 million barrels. There were zero imports recorded for the 20th week in a row.

Average weekly gasoline demand decreased 7.9% from last week’s record high to 381.5 million gallons (9.083 million barrels) daily. This is equivalent to 139.24 billion gallons annualized. Refiner/blender input of ethanol decreased 0.7% to 911,000 b/d, equivalent to 13.97 billion gallons annualized. The ethanol content in gasoline supplied to the market averaged 10.03%, up from 9.30% the previous week and the first week this year to breach the 10% threshold. Expressed as a percentage of daily gasoline demand, daily ethanol production increased to 10.84%.